S01707 Actions:

S01707 Memo:

S01707 Text:

STATE OF NEW YORK
________________________________________________________________________
1707
2017-2018 Regular Sessions
IN SENATE
January 10, 2017
___________
Introduced by Sen. MARCHIONE -- read twice and ordered printed, and when
printed to be committed to the Committee on Local Government
AN ACT to amend the general municipal law and the education law, in
relation to the formula for the real property tax cap
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. This act shall be known and may be cited as the "two
2 percent is two percent property tax cap act".
3 § 2. Paragraph (a) of subdivision 2 of section 3-c of the general
4 municipal law, as added by section 1 of part A of chapter 97 of the laws
5 of 2011, is amended to read as follows:
6 (a) "Allowable levy growth factor" shall be [the lesser of: (i)] one
7 and two one-hundredths[; or (ii) the sum of one plus the inflation
8 factor; provided, however, that in no case shall the levy growth factor
9 be less than one].
10 § 3. Paragraph a of subdivision 2 of section 2023-a of the education
11 law, as added by section 2 of part A of chapter 97 of the laws of 2011,
12 is amended to read as follows:
13 a. "Allowable levy growth factor" shall be [the lesser of: (i)] one
14 and two one-hundredths[; or (ii) the sum of one plus the inflation
15 factor; provided, however, that in no case shall the levy growth factor
16 be less than one].
17 § 4. This act shall take effect immediately; provided, however, that
18 the amendments to section 3-c of the general municipal law made by
19 section one of this act shall not affect the repeal of such section and
20 shall be deemed repealed therewith; provided, further, that the amend-
21 ments to section 2023-a of the education law made by section two of this
22 act shall not affect the repeal of such section and shall be deemed
23 repealed therewith.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01806-01-7